Monday, October 02, 2017
9:40:26 AM EDT

Trade Alert!

by
Dot Hazlin

The bullish open today was too much for this week's SPX Iron Condor. Our stop loss was hit and the position closed as follows:

Closing details are as follows:

BOUGHT SPX October 6 2530 Call, 3.15 Debit.

SOLD SPX October 6 2540 Call, 1.10 Credit.

BOUGHT SPX October 6 2460 Put, .60 Debit.

SOLD SPX October 6 2450 Put, .50 Credit.

Net Debit (all four legs): $2.15

Net Credit to Open Position: $1.30

This represented a loss of ($85), 10% of the margin/risk and our pre-set max loss. We still have a good track for the year on the weekly Iron Condor, so we must take our losses when they occur and move on.